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As a result of FedLoan’s decision, its student loan accounts were transferred among these four servicers: MOHELA. Edfinancial. Aidvantage (formerly Navient) Nelnet. The transfer was completed in ...
Navient transferred to Aidvantage. According to the Consumer Financial Protection Bureau, over 17 million accounts have already transitioned, and 13 million more are set to transfer to new ...
navient .com. Navient Corporation is an American student loan servicer based in Wilmington, Delaware. Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient. Navient employs 6,000 people at offices across ...
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
In 2021, Maximus completed three additional transactions. Maximus and Navient announced the two companies signed a definitive agreement [25] to transfer the loan servicing for 5.6 million U.S. Department of Education-owned student loan accounts through a contract novation, creating a new operating entity, Aidvantage.
Navient’s student loan portfolio is estimated at about $1.7 trillion, CNBC reported. Navient is the third lender this year to end its relationship with the federal government. The others are ...
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